Klings view of the economy is that we need to be good at something and trade it with others who can provide the same service in their specialty. Stanford says the economy is about human beings prioritizing their needs with limited resources, repeating the production cycle continuing to improve. Both perspectives, regardless of how we consume or produce it, makes us rely on each other. No matter how the economy is studied or what economists say, everyone plays a role.

Stanford says “companies undertake most production and in which wage-earning employees do most of the work.” Since in private companies, production repeats itself, and continues to innovate in order to grow, how does that affect employees are just working for money? What strategies or methods are used in order to keep workers and attract more knowing there can be future changes? Although Stanford speaks that the economy is based off individual choices, specialization, and trade still place a role for their own production. The repeated cycle that is made from private ownership in businesses require multiple humans to keep producing. It cannot be done on its own.

Stanford says “ the economy consist of all the work that human beings perform, in order to produce the things we need and use our lives” When economists study over what is being produced, consumed, traded, the GDP and the market, why is it that some have more resources than others? Does volunteering count as a contribution towards production since it is not involve money?

Stanford says that economics is the study make rational choices among competing priorities. That means that we choose what we want to produce and how. Does that mean that individuals make choices based off logic? Knowing that we do not have access to unlimited resources, how do they know they are making the right choice? What if they fail to continue producing perfectly every time?

Klings introduction, highlights that whether we want to or not the economy relies on many people and we cannot avoid it. He has a social view of specialization and trade, even if there is no physical contact. Stanfords view on economics is that individuals work with what they have knowing we don’t have unlimited access. Individuals focus more on what is needed most. Both Klings and Stanfords readings speak over production, society, consumers, and factors that make up the economy.

Kling states that even if we are able to consume anything we are not able to produce it. This leads to me to wonder if there is anything I use or eat everyday that I could make on my own. "Your daily life depends on millions of other people". Even if I were to consume a meal that I made from scratch, the work of getting the ingredients to me had to be done from hours of labor and machines. However, can the people who produce it, consume their own work? If a person was part of a car making project and bought it after, is that considered consuming your production? You did not make the whole car, but you played a big part of the process. If we rely on millions of people to make just one item, isn't everyone who is involved producing something together? leading to consuming your production as a whole. I argue against since his logic is taking away the focus of the workers behind the production process.

Kling says that trade requires for there to be trust from strangers. "If trade entails trust among strangers, then financial intermediation entails trust overtime." He mentions how if there is trust lost in the financial systems it will break the flow of production in an economy. What would happen if suddenly we stopped putting trust in banks, or financial systems that are involved in order to make trade successful? How will employment, businesses, and production be affected?

Kling speaks over the amount of work and tools that are used for an item that looks simple to make. He says "We carry on our lives not really conscious of the complexity of that specialization." The steps and process line up to get just a bowl of cereal. What would happens if something steps out of line, or breaks down? will it slow down the production process? Or what if over time there are less workers to getting production moving?